After the U.S. stock market rebound, on-chain prices rose while positions shrank, and Nvidia became the center of capital contention.

BlockBeats news, November 10 - Last night, the U.S. semiconductor sector staged a strong rebound, with the Nasdaq rising 2.74% and the Philadelphia Semiconductor Index up 6.85%. AMD surged 13.26%, Micron and SanDisk both rose more than 6%, while Coherent and Lumentum gained 16.79% and 10.69% respectively.

Large on-chain accounts did not broadly chase the rally; instead, a clear pattern of "price up, positions down" emerged. Some shorts took advantage of the rebound to cover and lock in profits, while longs used the price recovery to reduce positions and exit. Nvidia was one of the few exceptions, with large position increases on both the long and short sides.

According to TradingBeats statistics, from last night's U.S. market open Beijing time to now, among 59 addresses with single-instrument net position adjustments exceeding $1 million, net long positions increased by approximately $20.76 million, and net short positions increased by approximately $6.96 million. Excluding Nvidia, net long positions across other instruments decreased by approximately $1.47 million in aggregate, with almost all of the overall position increase contributed by Nvidia.

Memory:

The memory sector showed the most pronounced "price up, positions down" pattern in this round. Large accounts' net long positions in memory decreased by approximately $2.11 million, while net short positions decreased by approximately $21.32 million, reflecting simultaneous short profit-taking and long reduction.

Micron: Net long positions decreased by approximately $6.39 million, and net short positions decreased by approximately $6.78 million. Among them, an address starting with 0xbd334 sold all of its existing long positions during the early morning rebound, with a transaction value of approximately $11.23 million, realizing a trading profit of approximately $351,300.

SanDisk: Net long positions decreased by approximately $6.93 million, and net short positions decreased by approximately $8.17 million. Despite the sharp stock price rally, significant position reductions occurred on both the long and short sides, with short covering slightly exceeding long exits.

SK Hynix Korean stock SKHX: Net long positions increased by approximately $7.85 million, with large funds still choosing to increase exposure during the rebound.

AMD: Rally accompanied by contraction in long and short positions

AMD rose 13.26% in last night's U.S. market, but large on-chain accounts' net long positions decreased by approximately $1.88 million, and net short positions decreased by approximately $6.76 million.

The operations of an address starting with 0x4e23 were fairly representative: it covered existing AMD short positions, then briefly flipped long, and quickly closed the newly added long positions. The trading sequence showed closing shorts first, then participating in the short-term chase.

During the same period, AMD contract OI (open interest) in terms of contracts decreased by approximately 35.7%. The simultaneous occurrence of a sharp price increase and a significant contraction in open interest was mainly due to existing positions exiting during the rebound.

Big Tech Stocks: Two-Way Reduction in Long and Short Positions for Apple, Microsoft, Google, and Others

Among tech stocks comprising Apple, Microsoft, Google, Amazon, Meta, Netflix, and Tesla, large accounts net reduced long positions by approximately $6.52 million and net reduced short positions by approximately $6.72 million.

The scale of position reduction on both long and short sides was similar, indicating that some accounts simultaneously contracted their existing long and short exposures during the rebound.

NVIDIA: Long Positions Increase by $22.23 Million, Short Positions Increase by $32.58 Million

NVIDIA formed a clear contrast with other targets. Last night, U.S. stock NVDA closed down 4.27%, while on-chain large accounts net increased long positions by approximately $22.23 million and net increased short positions by approximately $32.58 million, making it the target with the largest long position increase in this round of statistics.

Among them, the account starting with 0x4e23 increased NVDA long positions by approximately $14.23 million; the account starting with 0x5234 increased NVDA short positions by approximately $11.43 million while buying approximately $12.75 million in IBM long positions.

NVIDIA contract OI open interest increased by approximately 30.4%, with new exposures on both long and short sides being relatively significant.